FIRST ON FOX: A cooperative framework between the Trump administration, the Senate DOGE Caucus chairwoman and the House’s top small-business lawmaker seeks to boost domestic manufacturing by doubling the capital small businesses can access.
Manufacturing loans have increased by 74% during President Donald Trump’s first 100 days in office, sponsors of the Made In America Manufacturing Finance Act told Fox News Digital.
Proponents of the measure say that by doubling the limit from $5 million to $10 million for 7(a) and 504 loans geared toward small-manufacturing outfits that may not be able to borrow from traditional banks, those small businesses will be able to invest more in their workforce and their products alike.
House Small Business Committee chairman Roger Williams, R-Texas, told Fox News Digital on Wednesday that he, Sen. Joni Ernst, R-Iowa, and Small Business Administration (SBA) Administrator Kelly Loeffler are proud to collaborate on the legislation.
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“[W]e support America’s small businesses, which make up nearly 99% of all U.S. manufacturers,” Williams said.
“The Made in America Manufacturing Finance Act provides small business owners the capital they need to expand, modernize and compete. We must continue to support and empower the job creators who keep our communities thriving.”
Loeffler cited “Liberation Day,” the moniker Trump gave to April 2, the day most tariffs went into effect, saying the new act will build on the benefits of that framework in a joint pursuit of bolstering American businesses.
“On Liberation Day, President Trump made a clear promise to fight for our businesses and workers by bringing back the jobs and supply chains that built this nation — and today, we’re delivering,” Loeffler said.
“The Made in America Manufacturing Finance Act will double SBA loan limits for small manufacturers, supercharging the return of American industry by giving small businesses the capital they need to expand, hire and compete.”
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She went on to call small businesses the “foundation of American power” and said there is great value to products stamped with “Made in America.”
Williams said the cooperation between the administration, the Senate and the House is a good sign of how all three will work together beyond Trump’s 100 days.
“Together, we will continue driving the America First Agenda forward and creating an environment where the success of Main Street is a priority,” Williams said.
Ernst noted she previously warned the Biden administration about expanding the 7(a) program, but in a way that potentially left taxpayers on the hook for unsecured loans.
She told Fox News Digital that small manufacturers are what drive heartland economies like Iowa’s.
“Today marks a major step in bringing back ‘Made in America’,” she said.
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